Corient Private Wealth LP Has $2.30 Million Stock Position in RenaissanceRe Holdings Ltd. $RNR

Corient Private Wealth LP reduced its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 46.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,250 shares of the insurance provider’s stock after selling 6,392 shares during the quarter. Corient Private Wealth LP’s holdings in RenaissanceRe were worth $2,298,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of RenaissanceRe in the second quarter worth $1,319,724,000. Orbis Allan Gray Ltd acquired a new position in RenaissanceRe during the fourth quarter worth $178,519,000. Norges Bank bought a new position in RenaissanceRe in the fourth quarter valued at $168,582,000. GQG Partners LLC bought a new position in RenaissanceRe in the second quarter valued at $185,351,000. Finally, Egerton Capital UK LLP acquired a new stake in RenaissanceRe in the 4th quarter valued at $137,944,000. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RNR has been the topic of several analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of RenaissanceRe from $342.00 to $350.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Evercore set a $330.00 price objective on shares of RenaissanceRe in a research note on Thursday, July 23rd. Wolfe Research set a $315.00 price objective on RenaissanceRe in a report on Tuesday, July 7th. UBS Group set a $349.00 target price on RenaissanceRe and gave the company a “neutral” rating in a research report on Monday, July 27th. Finally, JPMorgan Chase & Co. upped their target price on RenaissanceRe from $329.00 to $360.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Five equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, RenaissanceRe presently has a consensus rating of “Hold” and a consensus price target of $336.33.

RenaissanceRe Stock Performance

RNR opened at $331.37 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. RenaissanceRe Holdings Ltd. has a 12-month low of $231.17 and a 12-month high of $335.97. The business has a 50 day moving average of $322.21 and a 200-day moving average of $307.02. The stock has a market cap of $13.77 billion, a price-to-earnings ratio of 5.69, a PEG ratio of 1.20 and a beta of 0.17.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Tuesday, June 30th. The insurance provider reported $12.92 earnings per share for the quarter. RenaissanceRe had a return on equity of 23.10% and a net margin of 23.65%.The business had revenue of $2.77 billion for the quarter. On average, equities research analysts expect that RenaissanceRe Holdings Ltd. will post 42.4 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 15th. RenaissanceRe’s payout ratio is 2.81%.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, EVP Robert Qutub sold 5,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $333.03, for a total value of $1,665,150.00. Following the transaction, the executive vice president directly owned 72,907 shares in the company, valued at $24,280,218.21. The trade was a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

RenaissanceRe Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.